The Securities and Exchange Commission (SEC) is close to a settlement in a landmark from the inside trading case involving former Coinbase product manager Ishan Wahi and brother Nikhil Wahi.
According to a joint court filing, the Securities and Exchange Commission agreed in principle with Ishan Wahi resolve All claims in issue during discussions with Nikhil and they continue. The Securities and Exchange Commission and the defendants are seeking an adjournment of The deadline is from April 6 through the summer allow time for settlement to be completed.
Ishan Wahi had previously requested his dismissal of The civil charges are for the SEC, however in February, he pleaded guilty in connection with this criminal Wire fraud charges filed by the Department of Justice. The charges relate to nine tokens listed by Coinbase that the SEC considers unregistered securities. It represents first Key insiders related to cryptocurrency trading issue.
Ramifications for the digital asset industry
The settlement could have broader ramifications for the digital asset industry. Main trading Platforms like Binance, Gemini, and Crypto.com also list some or all of Tokens, which means that the issue of wahi decision can be used in enforcement actions against they. However, it is unclear if the settlement will achieve this.
Possible settlement also It comes amid an ongoing investigation into Coinbase by the Securities and Exchange Commission, which recently sent the company a notice from Wells, notifying it of this. of An investigation into Earn and Wallet products and general exchange activity.
Civil charges were filed on Wait until Wahi can be judged in the criminal issue. However, Monday’s filing showed that the SEC and the two revelations moved to settle charges, citing the brothers’ cooperation. with regulator, however need more time for Settlement approval.
The letter asks the judge to preside over the case move the original The deadline is from 6th April to 15th June, with a reply Delivery time of July 15th.